Rivian Automotive, Inc. (NASDAQ:RIVN) Shares Acquired by Baillie Gifford & Co.

Baillie Gifford & Co. increased its position in shares of Rivian Automotive, Inc. (NASDAQ:RIVN - Free Report) by 52.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,357,579 shares of the electric vehicle automaker's stock after buying an additional 17,341,786 shares during the period. Baillie Gifford & Co. owned about 4.99% of Rivian Automotive worth $565,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RIVN. Quent Capital LLC increased its stake in Rivian Automotive by 74.3% in the 2nd quarter. Quent Capital LLC now owns 1,949 shares of the electric vehicle automaker's stock valued at $26,000 after buying an additional 831 shares during the period. GHP Investment Advisors Inc. boosted its stake in shares of Rivian Automotive by 63.2% in the 3rd quarter. GHP Investment Advisors Inc. now owns 2,588 shares of the electric vehicle automaker's stock valued at $29,000 after purchasing an additional 1,002 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Rivian Automotive by 975.4% during the first quarter. EverSource Wealth Advisors LLC now owns 2,624 shares of the electric vehicle automaker's stock valued at $29,000 after purchasing an additional 2,380 shares during the period. International Assets Investment Management LLC acquired a new position in Rivian Automotive during the second quarter worth $37,000. Finally, First Horizon Advisors Inc. raised its position in Rivian Automotive by 30.7% during the second quarter. First Horizon Advisors Inc. now owns 2,852 shares of the electric vehicle automaker's stock worth $38,000 after acquiring an additional 670 shares in the last quarter. Institutional investors own 66.25% of the company's stock.

Rivian Automotive Stock Performance

Shares of RIVN traded down $0.51 during trading hours on Tuesday, hitting $10.53. The company had a trading volume of 16,032,098 shares, compared to its average volume of 38,868,816. The company has a quick ratio of 4.01, a current ratio of 5.25 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $11.30 and a 200-day moving average of $12.38. Rivian Automotive, Inc. has a 12 month low of $8.26 and a 12 month high of $24.61. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of -1.93 and a beta of 2.04.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RIVN. Wells Fargo & Company reduced their price objective on shares of Rivian Automotive from $15.00 to $11.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 15th. Robert W. Baird cut their price target on shares of Rivian Automotive from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday. Stifel Nicolaus decreased their price target on Rivian Automotive from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday. Cantor Fitzgerald reissued an "overweight" rating and set a $19.00 price objective on shares of Rivian Automotive in a report on Monday, September 30th. Finally, Wolfe Research assumed coverage on Rivian Automotive in a research note on Thursday, September 5th. They set a "peer perform" rating for the company. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $15.68.

Insiders Place Their Bets

In other Rivian Automotive news, CEO Robert J. Scaringe sold 83,333 shares of Rivian Automotive stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $11.64, for a total transaction of $969,996.12. Following the transaction, the chief executive officer now directly owns 886,526 shares of the company's stock, valued at $10,319,162.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Robert J. Scaringe sold 83,333 shares of the company's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $11.64, for a total transaction of $969,996.12. Following the completion of the transaction, the chief executive officer now owns 886,526 shares in the company, valued at $10,319,162.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Claire Mcdonough sold 3,210 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $13.57, for a total value of $43,559.70. Following the completion of the transaction, the chief financial officer now directly owns 392,662 shares in the company, valued at $5,328,423.34. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,876 shares of company stock worth $2,153,551. 2.51% of the stock is currently owned by insiders.

About Rivian Automotive

Rivian Automotive, Inc, together with its subsidiaries, designs, develops, manufactures, and sells electric vehicles and accessories. The company offers consumer vehicles, including a two-row, five-passenger pickup truck under the R1T brand, a three-row, seven-passenger sport utility vehicle under the R1S name.